Wisdom of the Crowd - New Issues

1. Has POFMA been implemented properly on the first four actions?
2. Will the hostility between US and Iran escalate into a war?

Vote in
https://tklcloud.com/Crowd2/vote.aspx

WOTC - CPF release actual name of complainant

Wisdom of the Crowd: 84% of the respondents said that it is not proper for CPF to release the actual name of the respondents.

See the breakdown of their votes in
https://tklcloud.com/Crowd2/chart.aspx?ID=1772

WOTC - LTA stop car pooling service to JB

Wisdom of the Crowd: 91% of the respondents disagreed with the action taken by Land Transport Authority to stop the car pooling service between Singapore and Johore Bahru.

See the breakdown of their votes in
https://tklcloud.com/Crowd2/chart.aspx?ID=1771

WOTC - Stand united with the government

Wisdom of the Crowd: 75% of the respondents are not prepared to stand united with the government. 25% are willing to.

See the breakdown of the votes in
https://tklcloud.com/Crowd2/chart.aspx?ID=1770

WOTC - Economic prospects for 2020

Wisdom of the Crowd: 78% of the respondents are pessimistic about the economic prospects for 2020. 22% are neutral or positive.

See the breakdown of the votes in
https://tklcloud.com/Crowd2/chart.aspx?ID=1769

Quora: Who is more intelligent, more measured, more stable between China's Xi and US' Trump?

Masao Miwa, Always interested, especially Asia
Answered Dec 16

Let’s look at the facts.

Donald Trump was born into a rich family and his father is said to have bought his son’s way into Wharton where he got a Bachelor’s degree. None of the profs remember Trump. Trump says his father gave him a small loan to get him started. The NY Times said it was more like $60.7 million. Trump says he is worth $10 billion, Forbes claims he is only worth $3 billion. Trump is said to have declared bankruptcy 6 times.

Trump claimed he turned a 'small' $1 million loan from his father into an empire. The New York Times says it was more like $60.7 million in loans

TRUMP: My 'massive' net worth is 'in excess of TEN BILLION DOLLARS'

The Details About the 6 Donald Trump Corporate Bankruptcies

His followers consider him a genius, supreme leader, sharp negotiator, and super salesman On the last criteria, he must be right, his base of believers number in the millions.

On the other hand, Xi Jinping, though a princeling (a person whose parents were high in the communist government), when his father was purged, Xi was sent to the countryside to learn from the peasants there. From that rural start, Xi learned on his own and eventually when he came back, got a degree in Chemistry at Tsinghua University, China’s MIT. Later he got a Doctorate in law degree from Tsinghua. His political career started at the bottom as a village chief and worked his way up the ranks from city to province responsibilities and finally in the elite circles in Beijing where he is now President for life. He also holds several other titles as Paramount Leader, General Secretary of the Communist Party. and Chairman of the Central Military Commission. China is saving a lot of money with one person holding down so many positions. It also makes him the most powerful leader in China since Mao. Xi is the sponsor of the Belt and Road Initiative(BRI), responsible for the purge of corrupt officials in government, and the long-range planning of China’s economy and revitalization and architect of China’s military. 85% of Chinese think their government is on the right path. If so, Xi must have over a billion followers.

I vote for Xi Jinping based on merit and accomplishments.

Wisdom of the Crowd - New Issues

1. Why do consumers prefer cash and credit card payments?

2. How can we ensure locals get jobs over foreigners?

Vote in
https://tklcloud.com/Crowd2/vote.aspx

Hidden cost of cash and credit card payment

Many people like to pay by cash and credit card because it is convenient and free to them. They are not aware of the hidden costs that are reflected in the prices that they have to pay to hawkers and merchants.

https://tklcloud.com/Feedback/feedback2.aspx?id=2389

WOTC - Opinion of Boris Johnson as a leader

Wisdom of the Crowd: 45% of the respondents have a positive opinion of Boris Johnson as a leader. 55% have a negative opinion.

See the breakdown of the votes in
https://tklcloud.com/Crowd2/chart.aspx?ID=1768

WOTC - Opinion of Lee HL as a leader

Wisdom of the Crowd: 98% of the respondents have a negative opinion of Lee HL as a leader.

See the breakdown of the votes in
https://tklcloud.com/Crowd2/chart.aspx?ID=1767

Wisdom of the Crowd - New Issues

1. President Trump threaten to attack 52 Iranian sites
2. When will the Singapore general election be held?
3. What is a good way to help people cope with loss of jobs during a recession?

Vote in
https://tklcloud.com/Crowd2/vote.aspx

What should I do with my Tesla shares this week?

Tesla issued its 3Q financials on 23 Oct 2019. The 4Q financials will likely be issued on 23 Jan 2020, in about three weeks time.

If it shows an improved profit, it is likely that Tesla will move towards my target of US$500. At that point, I intend to take profit on half of my holdings.

When Tesla announced its 4Q sales on 3 Jan, it beat analyst forecast. The price jumped from $430 to $454 within a few minutes. However, it dropped back to $443 at the close.

I shall be watching the price movement over the next few days. There is the possibility that the market will continue to push up the price of Tesla shares, say to $470. This was what happened after the announcement of the 3Q financials. The full movement occurred over 1 week.

However, if the investors thought that the price of $450 is too high, it is likely that more will take profit and the price will continue to fall.


I have to watch this price carefully, as I have 300 shares worth SGD 180,000. As this is a volatile share, we can see a 10% movement in 1 day. That is $18,000. Frightening, right?

If you want to share in this excitement, you can watch the price by searching for "Share Price Tesla" on Chrome. You will see the latest price and it is updated live.

If you want to know more about how to monitor the share price movement, come and attend my talk on Sat 11 Jan. Register at https://tklcloud.com/event/whats_on.aspx

If you want to invest a smaller sum, you can buy 10 shares for US$4,300 or S$5,800. If you cannot take the risk and just want to watch the fun, you can continue to monitor my trade. I will tell stories, OK?

Helping unemployed people in a recession

Someone asked me - will there be a recession and how will it affect the people who lost their jobs?

I gave him this view.

https://tklcloud.com/Feedback/feedback2.aspx?id=2403

Better than FCF?

Is there an alternative way to help locals get jobs, instead of the Fair Consideration Framework (FCF) which is really a farce?

Here are my views.
https://tklcloud.com/Feedback/feedback2.aspx?id=2402

Wisdom of the Crowd - New Issues

1. President Trump threaten to attack 52 Iranian sites
2. When will the Singapore general election be held?

Vote in
https://tklcloud.com/Crowd2/vote.aspx

WOTC - Phase one trade deal between US and China

Wisdom of the Crowd: 47% of the respondents are optimistic about the phase one trade deal between US and China. 53% are not.

See the breakdown of the votes in
https://tklcloud.com/Crowd2/chart.aspx?ID=1766

WOTC - require prisoners to work

Wisdom of the Crowd: 92% of the respondents said that it is acceptable to require prisoners to do work that is suitable for them. 8% said that it is forced labor and unacceptable.

See the breakdown of the votes in
https://tklcloud.com/Crowd2/chart.aspx?ID=1765

My views about speculating in shares

Someone was worried that readers may follow my posts and think that it is easy to make money by investing in shares.

If these people are so idiotic, they deserve to lose their savings.

Investing in shares is risky. It requires a lot of hard work to select the shares to invest in. Even after you have selected a good share, it is a constant struggle to decide if the current price is too high or too high and whether you should buy more shares or sell some of your holdings.

Many people make mistakes in trading and they lose a lot of money.

Here are my tips on trading:

a) Never follow blindly to what other people say. They can give you a tip, but you must make your own study. If you are too lazy, don't trade shares, NEVER.

b) Trade with your spare cash, and NEVER with margin. When the share turns bad, you can afford to hold it and wait for it to recover. If you are on margin, you have to top up with more money. If you don't have, you have to take a loss.

I have shared with you some shares that I made money. My best share is Tesla. But it is highly speculative and need close monitoring. It is only easy on hindsight. It is not easy going forward.

I have realized the profit on two shares - Country Garden and China Molybdenum.

But some of my shares do not do well. I am now holding on to two shares that now show a big loss - China Sinopec and Koh Brothers.

China Sinopec is paying a dividend of 9% on the current price. I can afford to hold it for the dividend. it may take a long time for the share to recover to my cost price, but I am willing to wait, because this company is very big to fail.

Will I buy more shares at the current price? Maybe, and to enjoy the good dividend yield.

I have a big investment in Koh Brothers. I am waiting for the next financial result to come out in February. I hope that it shows an improvement in profit. If it does, the share price should jump at least 50%. If it gets worse, I have to wait another year or two.

The dividend yield is 2.7%. It is okay, compared to 1% on fixed deposit. The share price is only one third of the value of the assets. It can increase 3 times to the asset value if the company shows a good profit.

Can Koh Brothers go bankrupt? It can. But I don't think it will occur.

Remember, when you read my post, some of my shares make money and some lose money. It is not easy to make money. It requires a lot of hard work, and more importantly, it needs LUCK.

Passport fee of $90

Is it acceptable for the passport fee to be $90? I share my view here.

https://tklcloud.com/Feedback/feedback2.aspx?id=2401

Wisdom of the Crowd

Vote on these issues and win a prize.

https://tklcloud.com/Crowd2/active_issue.aspx

WOTC - Waiting time at pedestrian crossing

Wisdom of the Crowd: The respondents prefer the green man at pedestrian crossing to appear within 30 seconds (21%), 1 minute (33%), 2 minute (16%), longer if there is heavy traffic (30%).

See the details in
https://tklcloud.com/Crowd2/chart.aspx?ID=1764

WOTC - Streamline the bus network

Wisdom of the Crowd: 95% of the respondents prefer the govt to streamline the bus network to reduce the inefficiency and wastage. 5% prefer to maintain the existing network and are willing to pay higher fares.

See the breakdown of the votes in
https://tklcloud.com/Crowd2/chart.aspx?ID=1763

Do not accept nonsensical requirement

A few people mocked me by being confused with the instruction to submit an passport size photograph to renewal a passport.

I was confused because I was thinking of a physical photograph. How can I submit it online?

These "smart" people knew that ICA only required the to submit an image that is cropped to passport size. Surely they should know that other people might be confused? Why can't ICA ask for an image to be submitted, instead of a passport size photo?

Why are these "smart" people so arrogant and unempathetic? It is a bad behavior trait, but quite common.

Some of them are quite helpful in suggesting that I could download an app to do the work. I followed their suggestion and download an app. It contained detailed instruction and would probably take me 1 hour to understand it and get the photo suitable for ICA.

I realize that if ICA allowed me to submit an ordinary photo that is front facing, they could use a software to do the work, i.e. zoom, crop and change background, and get it done for 2 minutes. Why force the public to spend 1 hour when their staff could get it done in 2 minutes?

Here is my message to the "smart" people. You know how to get around the troublesome process implemented by ICA. By so doing, ICA does not realize that they could change and improve their process to benefit the community. Are you really that "smart" to accept the nonsensical requirement?

Online renewal of passport

I was confused with the instruction in the ICA website to upload a passport size photo for renewal of my passport.

https://tklcloud.com/Feedback/feedback2.aspx?id=2395

Increase in public transport fares could have been avoided

The increase in public transport fares could have been avoided if we (the govt and the people) are prepared to accept changes and streamline the bus network to improve its efficiency.

https://tklcloud.com/Feedback/feedback2.aspx?id=2394

Ban on PMD using foot paths

I expect to see more accidents on the road when the food delivery riders use motor cycles or scooters.

We will see what happens.

https://tklcloud.com/Feedback/feedback2.aspx?id=2393

E-wallet linked to RFID card

Should we continue to use cash for payment when many other countries are moving to e-payment? Do you agree that a payment card is more convenient than using QR code payment with mobile phone?


Read this
https://tklcloud.com/Feedback/feedback2.aspx?id=2389

How to get e-payment adopted quickly

Should we continue to use cash for payment when many other countries are moving to e-payment? Do you agree that a payment card is more convenient than using QR code payment with mobile phone?

Read this
https://tklcloud.com/Feedback/feedback2.aspx?id=2371

Wisdom of the Crowd - New Issues

1. Which description best fits Heng Swee Kiat?

2. How will most food delivery riders respond to the ban on using PMD on footpaths?

Vote in
https://tklcloud.com/Crowd2/vote.aspx

WOTC - How to deal with climbing vet fees

Wisdom of the Crowd - the respondents chose the following methods to deal with climbing vet fees: learn how to take care of pets (43%), check the fees charged by vets (27%), ask govt to regulate fees (27%), buy insurance (3%).

See the detailed votes in
https://tklcloud.com/Crowd2/chart.aspx?ID=1762

WOTC - Qualities for next president of America

Wisdom of the Crowd: The respondents voted for the following qualities as being most important for the next president of America - need to reduce inequality (50%), preference for female (22%), preference for continuity (19%), preference for age and experience (9%).

See the detailed votes in
https://tklcloud.com/Crowd2/chart.aspx?ID=1761

A long term investor has a different approach from a short term speculator.

My friend has an interesting strategy for investing. He said - what what Temasek and GIC are doing and do the opposite. When they buy, you sell. When they sell, you buy.

He said that he had observed their investments for many years. They often buy at a high price and sell at a low price. He quoted a few examples, e.g. the global banks during the financial crisis.

He quoted a recent case where Temasek or GIC bought Bayer at 95 euros. It is not trading at around 70 euros. He thinks that it is now a good time to buy Bayer. At this lower price, I agree.

He is a good friend and has many years of experience in investing. But I do not agree with his approach.

Temasek and GIC are long term investors. They have to buy in large quantities and that will move the price up. When they stop buying, the price will come down. So, a correction of 10% or more can be expected.

Their approach has to be different from that of a short term trader.

I think that Bayer may be a good share for a long term investor at the current price.

Let me quote another example.

Another friend told me that GIC bought China Molybdenum at close to HK $3. It dropped to around $2.40. I decided to buy this share at around the price. I found that it has good fundamentals, and has a strategic value as a rare earth mining company.

The share price stayed below $3 for several months. Towards year end, it jumped sharply above $3. I sold my holdings, having made a gain of 20%. It has since increased further to $3.30.

http://www.fisca.sg/ArticleDisplay.aspx?ID=664

WOTC - Next President of USA

Wisdom of the Crowd: The respondents voted in favor of the following persons as the next president of the United States - Bernie Sanders (31%), re-election of Donald Trump (28%), Elizabeth Warren (22%), Joe Biden (9%), another Republican (9%).

See the details of the voting in
https://tklcloud.com/Crowd2/chart.aspx?ID=1760

WOTC - Communicate by email

Wisdom of the Crowd: 95% of the respondents said that organizations should make it easier for customers to communicate with them using email. 5% are worried that emails are not secure.

See the breakdown of the votes in
https://tklcloud.com/Crowd2/chart.aspx?ID=1759

Wisdom of the Crowd - New Issues

1. Which description best fits PM Lee?
2. Which description best fits Dr. Mahathir?

Vote in
https://tklcloud.com/Crowd2/vote.aspx

WOTC - State surveillance in public areas

Wisdom of the Crowd: 48% of the participants said that it is all right for the state to conduct surveillance in the public areas to combat terrorism. 52% disagreed.

See the breakdown of the votes in
https://tklcloud.com/Crowd2/chart.aspx?ID=1758

WOTC: MOE will review the need to withhold certificates where fees are in arrears

Wisdom of the Crowd: 81% of the respondents reacted negatively to minister Ong's statement that he will review the practice of withholding the education certificate to force payment of arrears in fees.

See the breakdown of the votes in
https://tklcloud.com/Crowd2/chart.aspx?ID=1757

Wasteful to create a retail electricity market

Is it wasteful to create a retail electricity market and ask consumers to speculate on the pricing of electricity?

https://tklcloud.com/Feedback/feedback2.aspx?id=2381

Wisdom of the Crowd

Vote on these issues and win a prize (to be distributed on 1st of each month).

https://tklcloud.com/Crowd2/active_issue.aspx

WOTC - Landslide win for Boris Johnson

Wisdom of the Crowd: 65% of the respondents said that the landslide win of Boris Johnson is good for the UK. 35% disagreed.

See the breakdown of the votes in
https://tklcloud.com/Crowd2/chart.aspx?ID=1756

WOTC - Install water filtration system

Wisdom of the Crowd: 74% of the respondents said that it is advisable to install a water filtration system in the home. 26% disagreed.

See the breakdown of the votes in
https://tklcloud.com/Crowd2/chart.aspx?ID=1755

A mess with opening up of electricity market

Hello, I want to pass this message to LHL.
Your open market for electricity is in a mess.
I signed up with Keppel Electric to have their supply to my office a few years ago.
Someone came a few months to renew the contract.
Today, another person came to my office, also wanting to renew the contract.
Does Keppel Electric have a proper record of the renewal?
I don't know what is the status now.
Why does LHL want to introduce this kind of complicated and costly measures?
He could have just asked SP Services to reduce the electricity charges by 20%, instead of opening up the retail market.

https://tklcloud.com/Feedback/feedback2.aspx?id=2376

Get e-payment adopted rapidly in Singapore

I send this open letter to PM Lee on how to get e-payment adopted rapidly in Singapore.

Agree or not?
https://tklcloud.com/Feedback/feedback2.aspx?id=2371

China will issue its digital yuan

I give my views on the impact of the digital yuan that will soon be introduced by China.

Singapore has a choice to continue its slumber, or to wake up. I suspect it will continue to sleep and fall backwards.

https://tklcloud.com/Feedback/feedback2.aspx?id=2370

Risk and cost of using currency notes

My friend said.

Why are Singaporeans so slow in accepting electronic payment?

Do they realize that currency notes can be easily faked? What would happen if some crooks flood the market with fake Singapore dollar notes?

When you accept a US dollar note, do you realize that it may be faked? With so much US notes floating around, there is a high chance that you may be receiving faked notes.

Apart from fake notes, the handling of currency notes is also inefficient and costly. Merchants have to count the notes and give change. When they bank in their notes, they also have to count. The bank also has to count.

Apart from China, India is also moving to e-payment in a big way. And very fast also.

Will Singapore prove to be among the last countries in the world to move to e-payment?

Wow! This is serious.

https://tklcloud.com/Feedback/feedback2.aspx?id=2369

Changes in habits are need to make streamlining work

We need to streamline our bus network to improve efficiency and reduce operating cost.

We have to change the current network of 350 bus services. This is too many. We need to reduce it to 150 bus services.

Change is needed. For people who say that the current network should be kept, there is no way that streamlining can happen without change.

Another important feature of the change is the need to have an additional transfer in most cases. Transfers between bus services are easy as it occurs at the same bus stop.

Commuters are already used to make transfer from bus to MRT service, and that is much more inconvenient. It requires a lot of walking.

So, commuters should accept one more bus transfer to improve the efficiency of the bus network. Indeed, if the network is efficient, the travel time will be shorter. The fare will also be cheaper.

I do not understand why some commuters insist on keep a large network of bus services and avoid transfers, and expect the fares to be kept low. It cannot happen.

For streamlining to work, commuters must be prepared to accept changes. True or not?

https://tklcloud.com/Feedback/feedback2.aspx?id=2368

Road safety along Orchard Road

Is there a need to worry about traffic safety along Orchard Road?

https://tklcloud.com/Feedback/feedback2.aspx?id=2367

Wisdom of the Crowd - New Issues

1. Should injured people in an accident be sent to a nearby private hospital?
2. Should children in Xinjiang be sent to state "education centers"?

Vote in
https://tklcloud.com/Crowd2/vote.aspx

WOTC - World led by women?

Wisdom of the Crowd: 14% of the respondents said that it would be better if the world is led by women. However 86% do not agree.

See the breakdown of the votes in
https://tklcloud.com/Crowd2/chart.aspx?ID=1754

WOTC - Relax ban on footpaths for food delivery

Wisdom of the Crowd: 98% of the respondents said that the ban on the use of PMDs on footpaths should be relaxed for food delivery under certain conditions.

See the breakdown of the votes in
https://tklcloud.com/Crowd2/chart.aspx?ID=1753

Do not allow extreme caution to cause inconvenience

There is a tendency to adopt extreme caution to the extent that it cause inconvenience. We should adopt a more practical approach, rather than to be restricted unnecessarily.

I will illustrate my point with an example.

https://tklcloud.com/Feedback/feedback2.aspx?id=2366

Receipts are needed to recover GST

A person wrote to the St Times to complain about the wastage of paper in printing receipts for small purchases, e.g. supermarkets, etc.

I agreed. The receipts are hardly needed.

Another person replied that his company's accounts dept always insist on getting a receipt to recover the GST.

How wasteful. We are creating a lot of work, and wasting a lot of paper, just to handle GST. This is the hidden cost of GST that many people do not realize.

I call the GST system a "bits and pieces" system. We collect GST, refund it, collect again, etc. It is so wasteful and adds a lot of administrative cost.

I dislike the GST system of collecting and refunding "bits and pieces". I prefer that GST be entirely abolished and that the lost GST revenue should be recovered from income tax - if indeed it is necessary.

I believe that we can abolish GST without the need to replace the revenue, as the govt runs a big annual surplus.

If some revenue is needed, it can be collected as a tax on certain "luxury items", rather than collected GST in "bits and pieces".

https://tklcloud.com/Feedback/feedback2.aspx?id=2365

Streamline the bus network

The govt has increased the public transport fare by an average of 7% on 28 Dec 2019. It is a hefty increase.

This increase could have been avoided if the govt reduces the operating cost by streamlining the bus network.

I have given this suggestion a few months ago. The revised network will reduce operating cost and actually reduce the travelling time. However, it does require commuters to make an additional transfer.

Read this
https://tklcloud.com/Feedback/feedback2.aspx?id=1817

If you prefer to avoid the fare increase and accept a streamlined network - vote Agree.

If you prefer to pay the higher fare and enjoy the current wide network - vote Disagree.

Wisdom of the Crowd - New Issues

1. Is it good for LTA to stop the car pooling service between SG and JB?

2. Shouild CPF release the name and details of the complainant?

Vote in
https://tklcloud.com/Crowd2/vote.aspx

WOTC: POFMA will suppress free expression of views

Wisdom of the Crowd: 88% of the respondents said that POFMA will suppress the free expression of views. 12% said that POFMA is useful to correct falsehoods.

See the breakdown of the votes in
https://tklcloud.com/Crowd2/chart.aspx?ID=1751

WOTC: Elevated walkways to MRT stations

Wisdom of the Crowd: 69% of the respondents like to have elevated walkways to link MRT stations to nearby streets. 31% said that it is too costly.

See the breakdown of the votes in
https://tklcloud.com/Crowd2/chart.aspx?ID=1751

A good system of naming roads

Malaysia has a good system of naming their roads.

I quote this example. The main road is Setia India. The side roads, branching from this road are Setia Indah 1, Setia Indah 2, Setia Indah 3, etc.

The small roads branching from Setia Indah 1 are name as Setia Indah 1/1, Setia Indah 1/2, Setia Indah 1/3 etc.

They do not need to look for so many different names. The numbering system makes it easy to locate the side roads and even the smaller roads.

The names of the side roads and smaller roads are also kept short.

Do you agree?

CPF released complainant's details

The govt said that it was necessary to release the name of the complainant in this matter. See their explanation.

https://www.channelnewsasia.com/news/singapore/cpf-board-personal-data-release-online-citizen-12215766?

I do not agree. There was no need to release the name, as it was not relevant to the issue. They could have continued to use a pseudonym as the facts of the case were correct.

The fact that the other agencies were "actively assisting" her is irrelevant. She did not receive the timely help that she needed.

The disclosure of the actual name is an unnecessary invasion of privacy and a form of intimidation. It should not be done in this manner by an "official body".

It was also ridiculous for the post to be issued jointly by several agencies. Surely one agency could issue it on behalf of the other agencies? It is this kind of wasteful practice that make it difficult to change bad practices, as so many "cooks" are involved.

Do you agree?

CPF contribution for older workers

CPF contribution for workers above 55 years should be voluntary. This applies to both worker and employer contribution. Why?

I give my reasons here.
https://tklcloud.com/Feedback/feedback2.aspx?id=2364

Give your vote in that article. OK?

Bus contracting system

Many people are puzzled - why does the govt increase the bus fares when SBS Transit is making a big profit?

Here is the explanation
https://tklcloud.com/Feedback/feedback2.aspx?id=2363

Urgent action needed to block spam calls and SMS

Most people have received dozens of SMS from unsolicited callers advertising online betting schemes and loans.

See this
https://tklcloud.com/Feedback/feedback2.aspx?id=2355

It is very easy for the "authority" to stop this calls. But they prefer to do nothing. It is a very sad state of affairs.

How can this be stopped?

In the SMS, there is always a number to call. Someone is holding that number. The police could have contacted that number and talked to the caller. The call can be recorded for evidence.

The caller can be traced and charged for abuse of the Do Not Call register. The first offence can be penalized lightly. Subsequent offenses can be penalized heavily.

Why does the police not adopt this approach? I wonder.

Oversight of condo manager

You can recall that the general manager of Ang Mo Kio Town Council was found to be corrupt in favoring certain contractors in return for entertainment and other benefits.

How can the town council, which include prominent MPs and the PM, have avoided this risk and taken steps to ensure the integrity of the quotation process?

What has happened in the AMK town council could have happened to other town councils and to the councils of many MCST (i.e. condominiums) in Singapore.

https://tklcloud.com/Feedback/feedback2.aspx?id=2362

A better way to help retrenched workers get employment

The govt spend $1 billion a year on the SkillsFuture fund to provide training for older workers to get new skills and to help retrenched workers to get re-employment.

So far, the anecdotal evidence is that this training did not help many people to get re-employment. The money goes to provide general training that are "interesting" to the workers, but are not effective in helping them to get a job.

Is there a better way to use the money?

Here is my suggestion.
https://tklcloud.com/Feedback/feedback2.aspx?id=2361

Is SkillsFuture used effectively?

The govt is wasting a lot of money on SkillsFuture and is also continuing the Skills Development Fund (SDF) that has lost its purpose? Do you agree?

Read this
https://tklcloud.com/Feedback/feedback2.aspx?id=2356

Wisdom of the Crowd - New Issues

1. What are your views about economic prospects for 2020?

2. Should Singaporeans stand united with the government?

Vote in
https://tklcloud.com/Crowd2/vote.aspx

WOTC: Ministers have abused POFMA

WOTC: 100% of the respondents said that the ministers have abused POFMA for their own purpose, rather than to establish truth.

See their reasons in
https://tklcloud.com/Crowd2/chart.aspx?ID=1750

WOTC: Employment of PMETs have increased?

Wisdom of the Crowd: 97% of the respondents do not trust the figure from MOM that employment of PMETs have increased in 2019.

See the breakdown of the votes in
https://tklcloud.com/Crowd2/chart.aspx?ID=1749

Policyholder was not told about options other than a policy loan

A woman called me. She wanted to engage me to help her to deal with a problem.

20 years ago, she took a loan on her life insurance policy. The loan carried an interest rate of 5.5%. She did not repay the loan for all of these years and the loan, with interest accumulated to more than $15,000.

She now learned that she had an option of en-cashing the bonus on her policy, instead of taking a loan.

Why didn't the servicing staff of the company told her about this option?

She could also have surrendered her policy at that time, either in part or in full.

Anyway, the value of the bonus would also have accumulated over the past 20 years, although it may not be at the same rate as the interest of 5.5% charged on the loan.

There was no way of finding out if the servicing staff had told her of these options. It would be difficult to argue about what she was told or not told 20 years ago.

She could have also raised this issue at any time during the past 20 years.

I declined to take up her case, because it does not have any merit.

I told her over the phone - sorry, I have to end this call.

http://fisca.sg/ArticleDisplay.aspx?ID=662

A "rip off" investment to catch the penny wise pound foolish

An elderly woman went to a bank. The relationship manager (RM) introduced her to a life insurance policy. He asked her to invest $300,000 into the policy for another 40 years.

The woman approached me for my guidance. I asked her to make a donation of $150 to FISCA. She never came back.

I hope that she did not buy that policy. It gave a yield of 0.2% p.a. for the first 20 years. If she kept the policy for 40 year, the yield would be between 2.6% and 3.9% depending on projected investment return. It is not guaranteed.

The woman is unlikely to keep the policy for 40 years. She would be senile at that time.

It is a bad investment.

If she terminated the policy during the first year, she would suffer a loss of $60,000. The surrender value would be $60,000 less than the invested sum.

The life insurance cover is negligible.

Why should the policy cost so much? It is a "rip off" policy to catch the unsuspecting buyer.

The distribution cost, which is used to pay the RM and the bank, is $30,000. Here is a person who refuses to make a donation of $150 and is not aware that she is paying $30,000 to the RM for selling her this bad investment. 

Penny wise, pound foolish!

Could she invest in other safe investment to earn a better yield. Most certainly she can.

If she invest for 20 years or longer, she should invest in an index fund, such as the STI exchange traded fund. The risk is minimal. The long term yield is likely to be between 4% and 6% p.a. It is not guaranteed, but quite safe for a long term investment.

Read here
http://www.fisca.sg/ArticleDisplay.aspx?ID=661

Wisdom of the Crowd - prizes to be distributed on 1 January

Vote on these issues and win a prize. Prize to be distributed on 1 January.

https://tklcloud.com/Crowd2/active_issue.aspx

WOTC - Change in HDB rules

Wisdom of the Crowd: the participants prefer to see the following changes in HDB rules - Govt to buy back old flats at fair valuation (40%), allow expiring lease to be extended (32%), relax use of CPF savings for old HDB flats (15%), allow citizens to opt out of CPf when they rent flats (12%).

See the details in
https://tklcloud.com/Crowd2/chart.aspx?ID=1748

WOTC - Negative govt policies

Wisdom of the Crowd: the participants choose the following govt policies as affecting citizens most in a negative way - insecurity of jobs and inadequate pay (57%), inability to withdraw savings at age 55 (26%), HDB lease decay (15%)

See the details in
https://tklcloud.com/Crowd2/chart.aspx?ID=1747

Story telling about Tesla and other shares

I invested $63,000 in Tesla shares 6 months ago and by now made a gain of $56,000 (89% gain). This is due mainly to good luck.

Want to know how to get good luck? Attend my story telling session here:

https://tklcloud.com/Event/whats_on.aspx

You can download the Powerpoint Slides here:

http://s3.tklcloud.com.s3-ap-southeast-1.amazonaws.com/T99/191211140702974_My%20experience%20with%20speculative%20investments.pdf

Grab to apply for digital bank license?

I saw a report that Grab is applying for a digital banking license in Singapore. I am not able to verify the authenticity of this report.

Assuming that it is true, what are the services that Grab intends to provide to their customers?

They have an advantage in that Grab has a large customer base that has deposited money in their e-wallets for Grab rides. If not, they have the credit card numbers of their customers and use it for making payments.

What other services can Grab provide, under the digital bank license?

I believe that they will encourage their customers to deposit a larger sum with them, and earn interest that is higher than that offered by the bank on short term deposits. If the interest rate is 1% p.a., it would be attractive to customers.

Perhaps Grab can also offer consumer loans?

Maybe, with a banking license, Grab can go out and enrol merchants for digital payments, similar to AliPay and WeChat Pay.

Any views?

https://tklcloud.com/Feedback/feedback2.aspx?id=2351

Wisdom of the Crowd - New Issues

1. What is your opinion of Lee Hsien Loong?

2. What is your opinion of Boris Johnson?

Vote in
https://tklcloud.com/Crowd2/vote.aspx

WOTC - Is Brexit positive for the UK?

Wisdom of the Crowd: 94% of the participants said that Brexit will be positive for the UK. 6% said that it will be negative.

See the breakdown of the votes in
https://tklcloud.com/Crowd2/chart.aspx?ID=1746

WOTC - Genocide of the Rohingas

Wisdom of the Crowd: 42% of the participants said that Aung San Suu Kyi should take responsibility for the genocide of the Rohingas. The other 58% disagree.

See the breakdown of the votes in
https://tklcloud.com/Crowd2/chart.aspx?ID=1745

Avoid these dirty words

I consider "tweak" and "calibrate" to be two dirty words, when they are used by ministers.

Why? Read this article.
https://tklcloud.com/Feedback/feedback2.aspx?id=2347

Wisdom of the Crowd - New Issues

1. Is it acceptable to require prisoners to do work that is fit for them?
2. Was the phase one trade deal between USA and China good for these countries?

Vote in
https://tklcloud.com/Crowd2/vote.aspx

WOTC - Did the CISCO officer acting correctly?

Wisdom of the Crowd: 42% of the respondents said that the CISCO officer was right in kicking the PMD rider to stop him from riding dangerously. 58% disagreed.

See the breakdown of the votes in
https://tklcloud.com/Crowd2/chart.aspx?ID=1744

WOTC - Should Anwar Ibrahim be the PM of Malaysia?

Wisdom of the Crowd: 60% of the respondents said that Anwar Ibrahim should have a chance to be the PM of Malaysia. 40% disagree.

See the breakdown of the votes in
https://tklcloud.com/Crowd2/chart.aspx?ID=1743

Spawn more employment opportunities for our Pioneer Generation

Last Friday morning I chanced upon an elderly female on the sidewalk at Victoria Street. She asked me for directions to Coleman Street in order to attend a job interview.

I gestured to her the routes. However she did not appear to fully comprehend my explanations. To assuage her anxiety, I offered to walk her from Victoria Street to her place of interview. I learnt from this 65 years old lady that she was recently retrenched from her company. She was displaced by another new employee of Vietnamese nationality; a 26 years old female for the office cleaning job.

https://tklcloud.com/Feedback/feedback2.aspx?id=2346

Improve timing at pedestrian crossing

I use the pedestrian crossing at Yio Chu Kang Road, before KLC International, almost daily.

After pressing the button, I often have to wait for 1 or 2 minutes before the green man appears. During this waiting time, the road may be clear of traffic, and yet the green man does not appear.

https://tklcloud.com/Feedback/feedback2.aspx?id=2345

Improve communication with customers

Many organizations in Singapore have an inefficient way of communicating their customers.

I often get a call on my mobile phone from an "unknown number". It is usually a land line. I do not pick up the call, because it comes an an inconvenient time or it might be a marketing call that I wish to avoid.

https://tklcloud.com/Feedback/feedback2.aspx?id=2340

Goodbye to Digi

I have been using Digi for my data access in Malaysia for the past two years. I have been an active customer and has bought their data plan on many occasions when I visited Malaysia.

I will now be saying goodbye to Digi. I will not be using their service any longer.

https://tklcloud.com/Feedback/feedback2.aspx?id=2339

Wisdom of the Crowd

Vote on these issues and win a prize.

https://tklcloud.com/Crowd2/active_issue.aspx

Quora: How does the Xi JinPing of China tackle the Trade War? Will Trump win?

Masao Miwa, Always interested, especially Asia Answered Aug 8, 2018

First, Xi Jinping is not a Donald Trump. Xi let’s his trade experts manage the trade situation that has China’s best interest at heart. Xi will be kept informed as conditions progress. China has been meeting and coordinating trade with other Asian countries. Trump has isolated the US. To replace US imports to China, trade representatives are getting new agreements from alternate sources. China is also making changes to her agricultural lands to replace imports from the US.

China’s exports to the US represents 18% of her total world exports, so while important, survivable. It won’t go to zero, but certainly something less than 18%. Much of China’s imports from the US are agricultural products and aircraft. They are replaceable with alternate suppliers.

Part of the equation, intentional or not, the Yuan has dropped in value, so it offsets some of the tariff damage on exports. We’ll see how this plays out as the damage becomes more visible. Right now, China’s focus is on technology and domestic consumption. The trade problem appears to be only with the US. Other countries have no trade disagreements or as in the case of the EU, they are talking about trade concessions and opening the China market wider to them. The world, including China, is moving to accommodate the US trade war.

China reportedly lining up countries against US in pending trade war

https://www.barrons.com/articles...

A bad idea to buy insurance to cover vet fees

There is a trend towards buying insurance to cover vet fees for treatment of pets.

It is a bad idea.
https://tklcloud.com/Feedback/feedback2.aspx?id=2334

Prisoners should be required to work to offset the cost of keeping them in jail

Some people argued that prisoners should not be required to work because it is "forced labor".

I disagree.
https://tklcloud.com/Feedback/feedback2.aspx?id=2333

Quora: Does China’s threats of retaliation contradict the message that China does not need the U.S. as a trading partner? Why or why not?

Masao Miwa, Always interested, especially Asia Answered Dec 13

Currently, US trade represents 18% of China’s exports. However, because of actions by the US to threaten that trade with tariffs, China is moving to reduce the threat to her economy by trade and investments with the other countries. China’s trade as a percent of GDP has been falling since 2006, from a high of 64% to 38% in 2018, which puts China in the bottom quartile of dependence on trade. That trend will continue.

China Trade to GDP Ratio 1960-2019

List of countries by trade-to-GDP ratio - Wikipedia

The issue is not just trade the issue of Huawei and 5G has more to do with China’s technology rise than trade. Huawei’s trade in the US before the ban was small but increasing, especially selling to small rural carriers, its mobile phone business was almost zero. In spite of Huawei’s ban to US markets, Huawei continues to sell well to the rest of the world and domestically. Other Chinese companies are recognizing the dangers in trade with the US and are creating their own backup plans for sourcing and for sales. You see a decoupling going on, one that won’t change overnight, But for sure it is occurring. US tech companies will be the big losers, same as happened to US soybean farmers, the China market lost because of US policies and actions.

Keep in mind there are other sectors that are being affected by the trade war. These are for the US to lose if Trump keeps pushing for demands China will not accept. Foreign affiliate sales are falling, tourism is falling, student enrollment is falling, and FDI dropped off a cliff in 2018. All are inputs of wealth from China that don’t show up in the trade figures. All these sectors are falling because of the trade issue and the general tone of the US against China. From meddling in China’s domestic affairs to bans and sanctions, all create a tone of retaliation and opposition instead of building on working together in peace.

“According to many in the United States, however, these flows are imbalanced to America’s disadvantage. Look no further, they argue, than America’s large trade deficit, which amounted to more than $622 billion in 2018, with China accounting for some $378 billion of it.

But there are serious problems with the simplistic cross-border trade-deficit metric – not least its failure to account for the business conducted within a foreign country’s borders. In 2016, (the latest year for which data are available), US multinationals, including their foreign affiliates, generated $5.8 trillion in sales in foreign countries.

That figure not only dwarfs direct US exports, which amounted to $2.2 trillion in 2016; it exceeds the $4.1 trillion in total sales by all foreign multinationals in the US market. When it comes to sales in foreign markets, therefore, the US had a “surplus” of $1.7 trillion in 2016 – three times larger than the US trade deficit of $502 billion that year. This has meant major profits for US multinationals: the ratio of overseas sales to foreign direct investment (FDI) implies that companies are doubling their initial investments.

Geographically, US multinational sales and FDI are concentrated primarily in Europe. In 2016, European sales by US multinationals reached $2.8 trillion, or just under half the global total. But FDI amounted to $3.3 trillion, meaning that every dollar of FDI produced $0.85 of sales. Europe thus represents a below-average market for US multinationals.

The Asia-Pacific (APAC) region – which ranks second for both US trade and sales by US multinationals – is more lucrative. APAC accounted for just over 29% of US exports in 2018, but 39.5% of imports, producing an overall trade deficit of $506.8 billion. But, returning to 2016 figures, US multinationals recorded $1.58 trillion in sales in the APAC region, while delivering $881 billion of FDI. For every dollar of investment in APAC, US multinationals gained $1.80 in sales.

One country is driving up this average: China. In 2016, US multinationals made $345.3 billion in sales, while investing $97.3 billion. That translates to an impressive sales-to-FDI ratio of 355%, up from 267% in 2009. (The much lower European ratio – 85% in 2016 – reflects a downward trend, from 123% in 2009.)

US companies’ sales in China dwarf Chinese firms’ sales in the US, which amounted to just $35 billion in 2016. In fact, by this measure, the US has a “surplus” of $310 billion. That is $2 billion larger than America’s bilateral trade deficit with China, meaning that, considering cross-border trade and overseas sales together, the positions of the US and China are roughly balanced. Meanwhile, US multinationals continue to reap huge profits in China – profits that, barring ill-advised interventions, will continue to grow.”

How will the US-China trade war affect corporate America?

“Chinese travel to the U.S. fell another 2.4% in the first quarter of 2019. The pullback has taken a toll because Chinese tourists stay an average 18 days and spend an average of nearly $7,000 per trip – about 50% more than other international tourists, according to the U.S. Travel Association.Aug 9, 2019”

Slump in overseas travel to US is expected to continue through 2020

“Chinese enrollment in US universities is falling — several schools reported declines of one-fifth or more. Administrators and observers say trade conflicts and US concerns about the security risks posed by visiting Chinese students appear to be accelerating the trend.Sep 24, 2019”

US universities are seeing steep declines in Chinese enrollment amid political tensions, and it's hurting their wallets

“"It dropped from tens of billions of dollars several years ago to virtually zero. It's actually a contraction now. If you include sales of Chinese assets in the United States and add back in the investments, you still don't reach zero, you actually end up still somewhat below zero."”

https://news.cgtn.com/news/2019-08-11/Chinese-investment-in-U-S-falls-off-a-cliff-J4TCRNOUdq/index.html

So where is that wealth going? Europe and Asia are the prime benefactors. Trump’s obsession with the trade deficit is throwing out the baby with the bath water.

Wisdom of the Crowd - New Issues

1. How should pet owners deal with climbing vet fees?

2. Public transport fares are likely to increase due to better service standards

Vote in
https://tklcloud.com/Crowd2/vote.aspx

Bus contracting model

The bus contracting model has improved services for commuters and allowed the bus companies to make good profits. But the fares has to increase soon.

The fare increase can be avoided, if the Land Transport Authority improve the efficiency of the bus system. Currently, it is operated quite wastefully (this is my opinion).

https://www.channelnewsasia.com/…/the-big-read-bus-contract…?

WOTC - a virtual telco operator has suspended its operation

Wisdom of the Crowd - 78% of the respondents said that the current system of managing the virtual telco market (which has lead to a telco suspending its operation) to be wasteful and unsatisfactory.

See their reasons in

https://tklcloud.com/Crowd2/chart.aspx?ID=1742

WOTC - Who is negligent in causing the death in the Bukit Batok fire

Wisdom of the Crowd: The respondents voted on the party responsible for the death in the Bukit Batok fire as follows - town council (59%), MP (29%), nobody (7%), SCDF (5%).

See the detailed voting in
https://tklcloud.com/Crowd2/chart.aspx?ID=1740

Death of victim in Bukit Batok fire

I asked this question in a survey - who is responsible for the death of the victim in the Bukit Batok fire?

Only 5% held the SCDF to be responsible. I disagree. In my view, they should hold the largest share of the blame.

See my reasoning here.
https://tklcloud.com/Feedback/feedback2.aspx?id=2332

Helpful PRC nationals

Forest City provides a free shuttle from the transportation hub to Bukit Indah mall at scheduled hours. I went to the transportation hub to take the free shuttle.

I could not find a bus marked with Forest City. Instead, I saw a Causeway Link bus. The bus was nearly full, occupied by PRC nationals.

I asked if the bus was going to Bukit Indah Mall. Yes, it was. I asked what was the fare.

Several of the passengers answered in Chinese - it is free.

This was actually the free shuttle arranged by Forest City. They engaged Causeway Link to provide the shuttle service. The bus carried the Causeway Link name and was not repainted with Forest City colors.

After the shopping in Bukit Indah, I had to catch the return shuttle at the scheduled time. I was not sure where the pickup point was.

There were a queue of people down the road. Most of them looked like PRC nationals. I asked them - is this the pickup point for the shuttle bus to Forest City.

The gentleman answered - yes it was. He explained the expected arrival time and departure time.

That was very helpful.

I found the PRC nationals on both occasions to be helpful and alert. They were quick to give helpful answers, and were not shy.

Perhaps they were the more wealthy people, as they must have bought a property in Forest City and are staying there on holiday or more permanently.

I have read about PRC nationals misbehaving badly outside of China. But I have also seen PRC nationals that behaved in a helpful manner.

Wisdom of the Crowd - New Issues

1. Who do you prefer as the next president of America.

2. Which characters is positive for the next president of America?

Vote in
https://tklcloud.com/Crowd2/vote.aspx

Wisdom of the Crowd

Vote on these issues and win a prize.

https://tklcloud.com/Crowd2/active_issue.aspx

WOTC - Preferred naming system for HDB estates

Wisdom of the Crowd: The respondents voted the naming system of the roads in the following estates to be the best - Ang Mo Kio (35%), Toa Payoh (32%), Hougang (13%), Sengkang (10%), Punggol (10%).

See the breakdown of the votes i
https://tklcloud.com/Crowd2/chart.aspx?ID=1739

WOTC - Use numbers for road names in Sengkang and Punggol

Wisdom of the Crowd: 77% of the respondents prefer the names of the roads in Sengkang and Punggol to be renamed to use numbers. 23% prefer to keep the existing names.

See the breakdown of the votes in
https://tklcloud.com/Crowd2/chart.aspx?ID=1738